News Articles

The modern workplace has evolved rapidly, with the development of the 'gig' economy and new ways of working. Freelance workers, contractors working via personal service companies, and workers accessing web-based platforms, for example, are now all integral parts of the modern workforce. With the tax and employment rules struggling to catch up, employment status is very much in the public eye. It is also subject to increasing government regulation. This Briefing provides guidance in key areas. Read More

The VAT domestic reverse charge for building and construction services comes into effect from 1 October 2019. Although some of the detail may change in the months to come, given the scale of the changes envisaged, it would be appropriate for businesses to start planning for them now. Read More

HMRC have announced new fuel rates for business mileage from March 2019. The amount that can be claimed is 45 pence per mile for the first 10,000 miles and 25 pence for any miles over 10,000 miles. Read More

HMRC have announced new fuel rates for business mileage from December 2018. The amount that can be claimed is 45 pence per mile for the first 10,000 miles and 25 pence for any miles over 10,000 miles. Read More

Making Tax Digital for VAT (MTDfV) brings mandatory new requirements from April 2019. But the change isn’t just about VAT. MTD affects the way that businesses keep records and the whole process of VAT return submission. This Briefing will help you plan for compliance. Read More

Entrepreneurs’ Relief (ER) is a significant tax relief available on the disposal of a business. Modifications introduced by Budget 2018 mean even closer attention to the rules will be needed to ensure eligibility. The focus in this Briefing is the company shareholder, although ER is also available to unincorporated businesses. Read More

Our summary focuses on the tax measures which may affect you, your family and your business. To help you decipher what was said we have included our own comments. If you have any questions please contact us for advice. Read More

Cyber security is an increasing problem for business, and according to the Cyber Security Breaches Survey 2018, it exists on an extensive scale.
More than four in ten UK small businesses, and two in ten charities, experienced a breach of cyber security in the last year, according to the Survey. Among larger businesses, the figure rose to two thirds. Although 74% of SMEs report feeling safe from attack, the Survey suggests ‘There is still a lot that organisations can do better.’ Read More

VAT can seem daunting to the smaller business, not least because of a strict penalty regime. But a good grasp of the basics can help reduce errors and minimise the risk of penalties. This Briefing offers guidance in a number of key areas. Read More

Making Tax Digital for VAT is on the horizon. We cover this in our front page article. Elsewhere, we consider the government consultation on compliance with the IR35 ‘off-payroll working’ rules in the private sector. We also draw attention to the many opportunities available to taxpayers to structure their affairs efficiently in the current tax year. Read More

This edition includes useful information about the new GDPR regulations, company vans and pickups, Auto Enrolment Pensions, and several other topics you might find useful including how not to pay family members. Read More Read More

Property letting is a complex area, subject to significant ongoing change. One major development is the restriction on tax relief for landlord interest costs, currently being phased in over a four-year period. Another important change affects the way in which income and expenses are treated for accounting purposes. This briefing examines some of the key issues involve. Read More

In this publication we concentrate on the tax consultations that were announced either at Spring Statement or in recent weeks. We are also taking this opportunity to remind you of tax changes which take effect for 2018/19. Read More

Making Tax Digital (MTD) represents a major change in the way taxpayers will interact with HMRC. It is part of HMRC’s flagship programme to make the UK one of the most digitally-advanced tax collection agencies in the world, and change is already underway. Read More

Timing is often the key ingredient in tax planning. The period leading up to the end of the tax year on 5 April is a prime time to take stock of your finances and tax position to minimise liability. As always, we are happy to advise on appropriate action. Read More

Our lead article is of particular relevance to corporate clients, and covers the correct procedure to be followed when making dividend payments. Highlighting some common errors, the article offers guidance on best practice, and how best to avoid challenge from HMRC. Elsewhere in the newsletter, we consider Community Amateur Sports Club status, forthcoming income tax rates and bands, National Minimum Wage latest rates,and Inheritace Tax. Read More

The Chancellor Philip Hammond presented his first Autumn Budget on Wednesday 22 November 2017.
Our summary focuses on the tax measures which may affect you, your family and your business. To help you decipher what was said we have included our own comments. If you have any questions please contact us for advice. Read More

Is your business prepared for forthcoming changes in the data protection regime? There has been extensive press coverage of the subject, but UK data protection watchdog, the Information Commissioner’s Office (ICO), is now concerned about misinformation being circulated in the media. With this in mind, we set out key features of the changes, with a view to dispelling some of the myths. Read More

The legal and administrative responsibilities involved in running a company are considerable, whether carried out by a company secretary, or another designated officer of the company. The advent of recent new legislation with regard to ‘persons with significant control’ adds further to the company secretarial burden. And as with other aspects of the company secretarial workload, there are significant penalties for getting it wrong. This Briefing provides an up to date overview of the duties involved. Read More

Our lead article provides an update on changes to the pensions auto-enrolment regime. We also comment on a promising start to a government initiative to help provide finance for small businesses struggling to access traditional sources of borrowing. Elsewhere in the newsletter, we consider the National Minimum Wage, problems with HMRC computers, and Making Tax Digital. Read More

In this Briefing we take a look at the key issues to keep in mind in order to enhance the prospects of a family succession taking place. We concentrate on the tax issues for yourself and other members of the family. Read More

When Corporation Tax was invented in 1965, the quantification of taxable profits bore a close resemblance to the taxation of the unincorporated business for many years. In more recent times the determination of profits has moved substantially from the original similarity and special rules have been introduced.
In this Briefing we review some of the special rules for companies.
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Our lead article provides an update on the governments new timetable for the roll-out of the Making Tax Digital program. HMRC is now allowing a longer period for most businesses to prepare for the change. We also comment on the new Tax Free Childcare Scheme currently being phased in. Other articles include PAYE tax code changes and the new data protection rules. Read More

Our lead article provides a planning perspective to the proposed reduction in the Dividend Allowance from April 2018. Also included are details of the changes all landlords should be aware of, and the current situation regarding HMRC's making tax digital plans. Read More

Another tax year has started and, as always in the world of tax, nothing stays the same. There are a number of methods of extracting funds from your own limited company and in this Briefing we consider the main options for extracting profit. Read More

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his speech the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed individuals. Read More

HMRC have announced new fuel rates for business mileage from March 2017. The amount that can be claimed is 45 pence per mile for the first 10,000 miles and 25 pence for any miles over 10,000 miles. Read More

A business can provide cars for business owners, directors or employees through an outright purchase, a hire purchase contract or by way of a business car lease (BCL). There are different tax impacts of these options both for the business and for the individual taking the car. Read More

Our lead article considers changes to the VAT Flat Rate Scheme (FRS) which allows small businesses to pay over VAT on all their sales at a flat rate rather than output VAT on sales less input VAT on purchases. The introduction of a new 16.5% higher percentage for ‘limited cost traders’ may mean some businesses should opt out of the FRS. Read More

Our lead article considers the new Tax-Free Childcare scheme which is to be rolled out to eligible parents during 2017. Childcare providers are being asked to register for the new scheme in advance of the roll out. Small companies that qualify as 'micro-entities' now have a choice when preparing their accounts as to the accounting standards used - either FRS 102 or FRS 105. We consider the merits and pitfalls of the options available. Read More

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From time to time we produce information on a number of topical and important issues that you either need to be aware of or might find useful.